All interviewed IT administrators agreed that student data is well-protected by their university (CU Boulder, UCCS, and CU Denver). They mentioned that in addition to adhering to guidelines set by FERPA (which ensures many aspects of student data privacy), IT departments all have their own stringent data-protection policies to ensure that student grades, assignments, messages, discussion posts, etc., are not seen by the wrong eyes.
CU LMS Privacy Survey Data Visualizations 